NHS GP appointments app announces £3bn US stock market listing

An NHS appointments app….floated via a SPAC….and being valued at £3B. There are so many things about this story that I don’t understand…and don’t want to think about too deeply…

https://www.theguardian.com/business/2021/jun/04/nhs-gp-appointments-app-3bn-us-stock-market-listing-babylon-spac-alkuri-global

A virtual GP appointments app used by the NHS has announced a £3bn US stock market listing after agreeing to a blank-cheque company merger that will net its British-Iranian founder almost £1bn.

Babylon’s reverse merger with Alkuri Global, a New York-listed special-purpose acquisition company (Spac), makes it thelatest firm to take advantage of a growing Spac trend that makes it cheaper for private companies to go public.